[naviga:h3]Walgreens ends pursuit of Rite Aid[/naviga:h3]

NEW YORK — Walgreens has ended its takeover pursuit of rival Rite Aid following resistance from U.S. regulators and will instead now buy stores, distribution centers and inventory in a new deal.

The proposed merger, first announced in 2015, was initially for about $9.4 billion but was whittled down to about $6.8 billion earlier this year.

Walgreens Boots Alliance will pay Rite Aid Corp. a $325 million termination fee. It will pay Fred’s Pharmacy an additional $25 million following the termination of a related asset deal.

Under the new agreement, Walgreens will buy 2,186 stores, three distribution centers and related inventory from Rite Aid for about $5.18 billion.

[naviga:h3]Rite Aid reports first-quarter loss[/naviga:h3]

CAMP HILL — Rite Aid Corp. on Thursday reported a loss of $75.3 million in its fiscal first quarter.

On a per-share basis, the Camp Hill, Pennsylvania-based company said it had a loss of 7 cents. Losses, adjusted for one-time gains and costs, came to 5 cents per share.

The drugstore chain posted revenue of $7.78 billion in the period.

The company’s shares closed at $3.93. A year ago, they were trading at $7.63.

[naviga:h3]Russia to extend Western food ban[/naviga:h3]

MOSCOW — The Russian prime minister has proposed to extend a ban on Western food imports for another 18 months in response to the EU’s decision to extend economic sanctions against Moscow.

Prime Minister Dmitry Medvedev said Thursday he will submit a proposal to extend the ban until Dec. 31, 2018 to President Vladimir Putin. Medvedev said the ban will help create incentives for Russian farmers.

Moscow has warned it would only lift the ban introduced in 2014 if the U.S. and the EU roll back the sanctions they imposed following Russia’s annexation of Crimea and support for separatist insurgents in eastern Ukraine.